Monday, March 12, 2012

Exclusive! KF cancels more flights even as more money gets pumped into F1

Neelam Mathews

March 12, 2012

Many Kingfisher Airlines pilots that gave an ultimatum to the management that they would no longer fly the carrier if they were not paid for their services, stuck to their word. Aerospace Diary learns that 20 percent of KFAs flights were pulled out last night and by the looks of it, passengers can expect more cancellations today. 40 more flights have been cancelled over the curtailed schedule. Kolkata operations have been stopped today.

In this background of bankruptcy looming over Vijay Mallya,  UK publications report that a further £20 million has been pumped into his Formula One team ahead of the start of the motor racing season in Australia next week. While Force India has improved, profits still elude the beer tycoon.

“Silverstone-based Force India team’s accounts show Watson Limited, Mallya’s personal investment vehicle, loaned it £6.85 million, while his Kingfisher Airlines and beer and spirits businesses provided it with £13 million in sponsorship money,” says a daily.

 Is it possible the airline has now become a point of boredom for Kingfisher’s chairman?

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